The following selected accounts appear in the ledger of Okie Environmental Corporation on August 1, 2010, the beginning of the current fiscal year: During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as follows: (a) Issued 17,500 shares of common stock at $81, receiving cash. (b) Issued 8,000 shares of preferred 2% stock at $63. (c) Purchased 5,000 shares of treasury common for $390,000. (d) Sold 3,000 shares of treasury common for $240,000. (e) Sold 1,000 shares of treasury common for $75,000. (f) Declared cash dividends of $1 per share on preferred stock and $0.80 per share on common stock. (g) Paid the cash dividends. Instructions Journalize the entries to record the transactions. Identify each entry byletter.
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